SNSN schreef op 4 december 2017 20:53:
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Ok, one more time.
As you should know well, as an investor, it's just 'asset valuation' methodology (and objective in-put parameters) that does 'decide' whether the particular stock is expensive, or not (just take a look at diff asset pricing methodologies). For instance, if trading options you know well that the (option) price is just 'proportional' to the size of volatility (though, there is a big diff between the 'physical' and 'implied' volatilities, isn't it?
However, because of many basic reasons (take a better look at the asset pricing theory) it's not possible to get an exact value for a company. Most likely one could calculate/estimate just a range for the firm's 'fair value'. One of the trivial reasons is that there are no liquid markets for companies, but just for the stocks, which as you know are affected by a number of 'not objective' stuff.
So, we provide just objective info based on companies' valuations (both technical & fundamental).
As for 'bubbles', you should know very well (if not, then just take a look at the index LT-chart, hope you don't need references - can find yourself) that the index is currently well above its 'bubble level' from 03/08-2000 (at almost the same P/E ratios).
Take care